Spire Wealth Management Invests $42,000 in Corpay, Inc. (NYSE:CPAY)

Spire Wealth Management bought a new stake in shares of Corpay, Inc. (NYSE:CPAY) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 123 shares of the company’s stock, valued at approximately $42,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Journey Strategic Wealth LLC purchased a new position in shares of Corpay in the 4th quarter valued at about $499,000. Capital Insight Partners LLC boosted its stake in shares of Corpay by 7.0% in the 4th quarter. Capital Insight Partners LLC now owns 2,508 shares of the company’s stock valued at $849,000 after buying an additional 165 shares during the period. Custom Index Systems LLC boosted its stake in shares of Corpay by 2.9% in the 4th quarter. Custom Index Systems LLC now owns 1,367 shares of the company’s stock valued at $463,000 after buying an additional 38 shares during the period. OLD National Bancorp IN boosted its stake in shares of Corpay by 15.4% in the 4th quarter. OLD National Bancorp IN now owns 905 shares of the company’s stock valued at $306,000 after buying an additional 121 shares during the period. Finally, Synergy Asset Management LLC purchased a new position in shares of Corpay in the 4th quarter valued at about $43,000. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Corpay Trading Down 3.6 %

CPAY opened at $375.53 on Monday. The firm has a market cap of $26.18 billion, a price-to-earnings ratio of 26.86, a price-to-earnings-growth ratio of 1.33 and a beta of 1.28. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $400.81. The business’s 50 day moving average is $361.61 and its two-hundred day moving average is $336.51. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66.

Corpay (NYSE:CPAY) last released its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 EPS for the quarter, missing the consensus estimate of $5.37 by ($0.41). Corpay had a return on equity of 41.46% and a net margin of 25.25%. On average, research analysts predict that Corpay, Inc. will post 20.62 EPS for the current year.

Insider Activity

In other news, Director Joseph W. Farrelly sold 2,975 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $375.18, for a total value of $1,116,160.50. Following the transaction, the director now owns 10,530 shares of the company’s stock, valued at approximately $3,950,645.40. The trade was a 22.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $370.04, for a total value of $2,960,320.00. Following the completion of the transaction, the chief accounting officer now directly owns 1,797 shares in the company, valued at approximately $664,961.88. The trade was a 81.66 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company’s stock.

Wall Street Analyst Weigh In

CPAY has been the subject of several recent research reports. BMO Capital Markets lifted their price objective on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Barclays raised their target price on Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Keefe, Bruyette & Woods raised their target price on Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a research report on Thursday. Morgan Stanley raised their target price on Corpay from $350.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Wells Fargo & Company raised their target price on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $399.71.

Corpay Profile

Corpay, Inc operates as a payments company that helps businesses and consumers manage vehicle-related expenses, lodging expenses, and corporate payments in the United States, Brazil, the United Kingdom, and internationally. The company offers vehicle payment solutions, which include fuel, tolls, parking, fleet maintenance, and long-haul transportation services, as well as prepaid food and transportation vouchers and cards.